Alamos Gold Inc. $AGI Shares Acquired by CWA Asset Management Group LLC

Key Points

• CWA Asset Management Group increased its Alamos Gold stake by 34.6% in the third quarter, acquiring 119,481 shares for a total holding of 465,282 shares valued at approximately $15.1 million. Institutional investors and hedge funds collectively own 64.33% of AGI.
• Alamos Gold reported quarterly earnings of $0.59 per share, exceeding the $0.52 consensus estimate, while revenue rose 35.6% year over year to $594.1 million.
• Analysts maintain a generally positive view, with eight Buy ratings and one Sell rating producing a consensus “Moderate Buy” rating and an average price target of $47.50, compared with the reported opening price of $31.96.

CWA Asset Management Group LLC lifted its stake in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 34.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 465,282 shares of the basic materials company's stock after acquiring an additional 119,481 shares during the quarter. CWA Asset Management Group LLC owned 0.11% of Alamos Gold worth $15,070,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Petra Financial Advisors Inc. boosted its position in shares of Alamos Gold by 2.3% in the 1st quarter. Petra Financial Advisors Inc. now owns 23,153 shares of the basic materials company's stock valued at $1,029,000 after purchasing an additional 518 shares during the period. Parvin Asset Management LLC increased its stake in Alamos Gold by 1.8% in the 1st quarter. Parvin Asset Management LLC now owns 35,390 shares of the basic materials company's stock worth $1,572,000 after purchasing an additional 625 shares in the last quarter. XML Financial LLC increased its stake in Alamos Gold by 10.8% in the 2nd quarter. XML Financial LLC now owns 7,200 shares of the basic materials company's stock worth $218,000 after purchasing an additional 700 shares in the last quarter. Kestra Advisory Services LLC raised its holdings in Alamos Gold by 16.5% during the 1st quarter. Kestra Advisory Services LLC now owns 5,143 shares of the basic materials company's stock worth $228,000 after buying an additional 728 shares during the period. Finally, Parallel Advisors LLC acquired a new stake in Alamos Gold during the 1st quarter worth about $35,000. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Alamos Gold Stock Performance

Shares of AGI stock opened at $31.96 on Tuesday. Alamos Gold Inc. has a 1-year low of $27.05 and a 1-year high of $55.41. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $13.38 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 0.48 and a beta of 0.59. The stock's fifty day simple moving average is $34.63 and its 200-day simple moving average is $36.25.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last posted its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The firm had revenue of $594.10 million for the quarter, compared to analyst estimates of $593.58 million. Alamos Gold had a return on equity of 19.28% and a net margin of 52.64%. Alamos Gold's quarterly revenue was up 35.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 earnings per share. On average, sell-side analysts predict that Alamos Gold Inc. will post 2.11 earnings per share for the current fiscal year.

Alamos Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, September 10th. Alamos Gold's payout ratio is 5.78%.

Wall Street Analyst Weigh In

A number of analysts have commented on AGI shares. Bank of America reduced their price objective on shares of Alamos Gold from $50.00 to $39.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Royal Bank Of Canada reissued an "outperform" rating and issued a $42.00 target price on shares of Alamos Gold in a research report on Wednesday, September 16th. Weiss Ratings raised shares of Alamos Gold from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Jefferies Financial Group cut their price target on shares of Alamos Gold from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Finally, Scotiabank restated an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $47.50.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of gold mines. The company produces gold doré and concentrate from its mining operations and also evaluates opportunities to expand existing assets and develop new projects.

Alamos Gold's principal operations are located in Ontario, Canada, including the Young-Davidson underground mine and the Island Gold underground mine. The company also operates the Magino open-pit mine in Ontario, which became part of its portfolio through the acquisition of Argonaut Gold.

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